Alleged Silk Road founder indicted by federal grand jury in New York

Ross Ulbricht, 29, the man accused of being the mastermind known as Dread Pirate Roberts behind the Deep Web black market known as Silk Road, was indicted by a federal grand jury in New York earlier today, reports ABC’s Micah Grimes.

Ulbricht, who was arrested on Oct. 2 by the FBI, faces charges for narcotics trafficking, continuing criminal enterprise, conspiracy to commit computer-hacking, and money laundering. Trafficking and continuing a criminal enterprise carry potential life sentences while the minimum sentence carried by each charge ranges from five to 20 years in prison.